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Informist, Friday, Oct. 18, 2024

By Shreya Shetty

MUMBAI – Prices of chana were up in key spot markets across the country due to a temporary rise in demand ahead of Diwali, traders said. Prices of tur, moong, and urad were steady, they said.

CHANA prices in Akola, Maharashtra, were up INR 25 from Thursday at INR 7,400-7,425 per 100 kg, Ankit Kedia, a local trader, said. Arrivals were steady at 300 bags (1 bag = 50 kg). "Prices are slightly up due to a temporary rise in buying by mills before they shut during the festivities," he said. With Diwali in two weeks, mills need to fulfil last-minute demands for besan before they shut shop for at least 10 days on account of Diwali, he said. Prices are expected to rise minimally and then remain steady in the next week for the same reasons, he said. However, after Diwali, chana prices could return to their previous downtrend, he said.

Similarly, prices of chana in Indore, Madhya Pradesh, were up INR 50 from Thursday at INR 7,325-7,350 per 100 kg, according to the India Pulses and Grains Association.

TUR prices in Akola were steady at INR 9,800-9,850 per 100 kg, Kedia said. Arrivals were up 50 bags (1 bag = 50 kg) at 250 bags. "Prices of tur have bottomed out for now," Kedia said, adding that prices of tur across many mandis in the country have gone below the INR 10,000 per 100-kg mark and have stabilised. Prices of tur are seen steady in the next few weeks, he said. However, prices could rise temporarily after Diwali when mills open up after the 10-day break. "Currently, millers have very low stocks of tur. So, to meet the normal demand after Diwali, they will have to start buying in bulk again, which may increase the prices of tur for a few days," he said.

Prices of tur in Kalaburagi, Karnataka, were also steady at INR 9,469-10,678 per 100 kg, according to the association. Arrivals were up 622 bags (1 bag = 50 kg) at 822 bags.

MOONG prices in Kalaburagi were steady at INR 6,500-7,500 per 100 kg, according to the association. Arrivals were steady at 3,000 bags (1 bag = 100 kg). Prices of moong in Lalitpur, Uttar Pradesh, were also steady at INR 6,500-7,500 per 100 kg, the association said. Arrivals were steady at 600 bags (1 bag = 100 kg).

URAD prices in Lalitpur were steady at INR 6,000-8,000 per 100 kg, according to the association. Arrivals were steady at 5,000 bags (1 bag = 50 kg). Prices of urad in Indore were also steady at INR 7,500-8,200 per 100 kg, it said.

Ample supplies of urad due to an increase in imports have also lowered prices of the commodity since June 2024, said analysts. Production of urad has increased in Myanmar, and India can expect 900,000 tonnes of the commodity from the neighbouring country this year, up from 650,000 tonnes in the previous year, said IGrain's Rahul Chauhan. "The sowing of urad in Myanmar is in full swing, and the new crop will hit Indian markets starting January," he said.

Brazil is also planning to increase its production of urad, Chauhan said. "In the previous year, Brazil exported 20,000-30,000 tonnes to India. This year Brazilian imports are expected to be around 50,000 tonnes, and next year the imports can double," he said.  End

Edited by Manisha Baxla

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